Consumer problem to be solved/gains to be provided

The project for this course will be developing a marketing plan for a New Product Development (NPD) idea.  The assignment project will be a proposal describing your New Product Development (NPD) idea.

Proposal

The proposal must include 1 page describing the New Product Development (NPD) idea.

The proposal document must illustrate the two following ideas:

  • Consumer problem to be solved/gains to be provided
  • Nature of the proposed solution

The document must elaborate on the feasibility of the proposed solution, as well as a brief summary of available alternatives.

 

The final plan should illustrate the following points:

  1. Consumer problem to be solved/gains to be provided
    • Nature of the proposed solution
  2. Positioning statement
    • Details on a target market and market segmentation
  3. Market analysis
    • SWOT analysis
    • Details on competing products or services
    • Discussions on differentiation from competition
    • discussion on market trends based on research
  4. New product development process summary
    • Details on the process used to develop this hypothetical product
    • Discussion on how concept/product could be tested
  5. Marketing strategy
    • Provide an overview of the planned marketing and advertising strategy
    • Provide more specific details and discussions on one of the following:
      • Integrated marketing communication plan
      • Logistics and distribution to include reverse logistics